Centric Wealth Management Makes New $3.98 Million Investment in Meritage Homes Co. (NYSE:MTH)

Centric Wealth Management acquired a new stake in shares of Meritage Homes Co. (NYSE:MTH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,857 shares of the construction company’s stock, valued at approximately $3,982,000. Meritage Homes makes up about 1.3% of Centric Wealth Management’s investment portfolio, making the stock its 19th largest holding. Centric Wealth Management owned 0.06% of Meritage Homes at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Lindbrook Capital LLC lifted its stake in Meritage Homes by 91.6% in the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the construction company’s stock valued at $36,000 after buying an additional 98 shares in the last quarter. Carmel Capital Partners LLC acquired a new stake in shares of Meritage Homes in the third quarter worth approximately $38,000. Daiwa Securities Group Inc. purchased a new stake in shares of Meritage Homes during the fourth quarter worth approximately $52,000. GAMMA Investing LLC acquired a new position in Meritage Homes in the 4th quarter valued at $96,000. Finally, Blue Trust Inc. lifted its holdings in Meritage Homes by 45.7% in the 4th quarter. Blue Trust Inc. now owns 628 shares of the construction company’s stock valued at $109,000 after purchasing an additional 197 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Meritage Homes Stock Performance

Shares of MTH traded up $1.02 during midday trading on Wednesday, reaching $181.60. 374,218 shares of the stock were exchanged, compared to its average volume of 417,476. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 8.38 and a beta of 1.75. Meritage Homes Co. has a twelve month low of $109.23 and a twelve month high of $183.78. The business’s 50-day moving average price is $162.18 and its 200 day moving average price is $156.37. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.66.

Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $5.06 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $1.52. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.28 billion. Meritage Homes had a return on equity of 17.63% and a net margin of 12.54%. On average, sell-side analysts expect that Meritage Homes Co. will post 20.41 EPS for the current fiscal year.

Meritage Homes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.75 per share. This is an increase from Meritage Homes’s previous quarterly dividend of $0.27. The ex-dividend date was Thursday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 1.65%. Meritage Homes’s dividend payout ratio is presently 13.99%.

Insiders Place Their Bets

In related news, CAO Alison Sasser sold 355 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $152.61, for a total value of $54,176.55. Following the completion of the sale, the chief accounting officer now directly owns 869 shares in the company, valued at $132,618.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Phillippe Lord sold 2,500 shares of Meritage Homes stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $162.79, for a total transaction of $406,975.00. Following the sale, the chief executive officer now owns 100,266 shares of the company’s stock, valued at approximately $16,322,302.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Alison Sasser sold 355 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $152.61, for a total value of $54,176.55. Following the completion of the transaction, the chief accounting officer now owns 869 shares in the company, valued at approximately $132,618.09. The disclosure for this sale can be found here. Insiders have sold a total of 3,998 shares of company stock valued at $635,171 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Meritage Homes from $180.00 to $195.00 and gave the stock a “market perform” rating in a research note on Wednesday. Zelman & Associates upgraded Meritage Homes from a “neutral” rating to an “outperform” rating in a research report on Monday, February 26th. StockNews.com upgraded Meritage Homes from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Seaport Res Ptn cut Meritage Homes from a “buy” rating to a “neutral” rating in a report on Monday, January 22nd. Finally, Wedbush reiterated an “underperform” rating and set a $148.00 price target on shares of Meritage Homes in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $178.25.

Meritage Homes Company Profile

Meritage Homes Corporation, together with its subsidiaries, designs and builds single-family attached and detached homes in the United States. The company operates through two segments, Homebuilding and Financial Services. It acquires and develops land; and constructs, markets, and sells homes for entry-level and first move-up buyers in Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina, and Tennessee.